Natural Gas
Natural gas spot price.
AI Analysis
Apr 2, 2026The macro regime is unambiguously STAGFLATION DEEPENING, with the activation of 'Operation Epic Fury' representing a genuine geopolitical regime break that has moved the Hormuz risk from tail to base case. The dominant market narrative for the next 2-6 weeks is the US-Iran military confrontation: Trump's primetime address confirming named operations against Iran, IRGC retaliatory announcements, and Houthi continuation of the missile campaign form a coherent escalation ladder that is likely to sustain WTI in the $105-130 range as the base case. The critical insight the market may be underpricing is the inflation pipeline lag — PPI at +0.7% 3M is building pressure that will not appear in CPI until April/May releases, meaning financial conditions will face a second tightening shock from inflation data just as markets might be tempted to price in de-escalation.
Recent Data
| Date | Value | Change |
|---|---|---|
| Apr 3, 2026 | $2.8 | +0.00% |
| Apr 2, 2026 | $2.8 | -0.67% |
| Apr 1, 2026 | $2.82 | -2.22% |
| Mar 31, 2026 | $2.88 | -0.14% |
| Mar 30, 2026 | $2.89 | -6.72% |
| Mar 27, 2026 | $3.1 | +3.20% |
| Mar 26, 2026 | $3 | +1.59% |
| Mar 25, 2026 | $2.95 | +0.31% |
| Mar 24, 2026 | $2.94 | +1.80% |
| Mar 23, 2026 | $2.89 | — |
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